Regarding NPS 80ccd1b

Sir

My savings through section 80C including PPF, LIC  premium, PLI and children tution fees is 125000. MY employee contribution to NPS (10% of Basic +DA) is 75000. Can I get dudection for 25000 in 80CCD1 (125000 from 80C and 25000 from 80CCD1 = 150000) and remaining 50000 through 80CCD1b. Can I get dedcution of total 200000
Asked 1 year ago in Income Tax from Pune, Maharashtra
Dear Sir,

You can have total deduction of Rs. 2,00,000/- based on your current NPS plan only.
wherein total of 80C Deduction you can claimed of Rs. 1,50,000/- & Additional deduction of Rs. 50,000/- u/s 80CCD
Vishrut Rajesh Shah
CA, Ahmedabad
564 Answers
5.0 on 5.0
  Talk to Vishrut Rajesh Shah
No you can get 125000 + 50000 only as deduction.
Shyam Sunder Modani
CA, Hyderabad
1366 Answers
5.0 on 5.0
  Talk to Shyam Sunder Modani
80CCD(1)(b) is part of 80CCD(1). You can claim Rs. 75,000/- u/s 80CCD(1)(a) itself and 80CCD(1)(b) has no relevance in your case.  Thus your total deduction is Rs. 2 L, including deduction u/s 80C for Rs. 1,25,000/-.
B Vijaya Kumar
CA, Hyderabad
617 Answers
5.0 on 5.0
  Talk to B Vijaya Kumar

Ask a Question

Get tax advice from top-rated chartered accountants. It's quick, easy, and anonymous!
Ask a question

Other Questions

Chartered Accountants

Abhishek Dugar
CA, Mumbai
1715 Answers
5.0 on 5.0
Rohit R Sharma
CA, Mumbai
1553 Answers
5.0 on 5.0
Keerthiga Padmanabhan
CA, Greater Mumbai
404 Answers
5.0 on 5.0
Lakshita Bhandari
CA, Mumbai
141 Answers
5.0 on 5.0
B Vijaya Kumar
CA, Hyderabad
617 Answers
5.0 on 5.0
Lalit Bansal
CA, New Delhi
243 Answers
5.0 on 5.0
Shyam Sunder Modani
CA, Hyderabad
1366 Answers
5.0 on 5.0
Pradeep Bhat
CA, Bengaluru
334 Answers
5.0 on 5.0
Vishakha Agarwal
CA, Bangalore
402 Answers
5.0 on 5.0
Shiv Kumar Agarwal
CA, Delhi
225 Answers
5.0 on 5.0